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OpenText to Cut Jobs and Create New Roles Amid AI and Cloud Focus

July 3, 2024 by Newsdesk

OpenText, headquartered in Waterloo, Ontario, announced plans to cut 1,200 jobs while creating 800 new ones in a strategic shift towards AI, cloud, and security technologies. CEO Mark Barrenechea outlined this transition to “OpenText 3.0 – Information Reimagined” in an open letter, emphasizing a focus on cutting-edge tech to serve business customers and reducing annual expenses by $150 million.

Despite job cuts, new positions will open in sales, professional services, and engineering. The company, which had 24,100 employees as of last June, reported US$1.4 billion in revenue last quarter, up from US$1.2 billion year-over-year.

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Filed Under: News Tagged With: OpenText

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